Momentum Venture Management Announces Investment in Online Automotive Aftermarket E-Commerce Company.Long Beach-Based Digital Performance Inc. is First Company Funded by Accelerator's New Bridge Fund LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Momentum Venture Management (www.mvmpartners.com), a Los Angeles company that helps entrepreneurs transform their technologies into viable, well-funded businesses, today announced that it has led the $500,000+ round of funding for Digital Performance Inc. (www.digitalperformance.com), a Long Beach-based e-commerce company. Digital Performance, Inc. (DPI (Dots Per Inch) The measurement of the resolution of display and printing systems. A typical CRT screen provides 96 dpi, which provides 9,216 dots per square inch (96x96). Flat panel displays from 110 to 200 dpi have also been developed. ) was founded in 2001 to create an online platform for the performance automotive aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. . The company is at the forefront of delivering tools to address the needs of performance enthusiasts and creating a data clearinghouse to serve manufacturers, distributors, dealers and shops. More than 13 million people use DPI's four search engines to search for companies and product information. Momentum Venture Management was co-founded by Andy Wilson and Matt Ridenour, who have significant backgrounds and track records as executives in early-stage companies and as principals in venture capitalist Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. firms. Collectively, they have raised in excess of $200M for early and growth companies. In their various experiences, they noted that many promising companies did not get funding because they had some gap in their plans or in their senior management team. They founded Momentum Venture Management to help entrepreneurs quickly fill these needs and get early business traction. The engagement with DPI, which includes Wilson serving as the company's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , is the first to include funding from Momentum's new bridge fund, which closed in October 2006. "DPI is a great company with an excellent set of products and a clear understanding of the market," Wilson says. "Historically their business model has spanned e-commerce Web development, data normalization See normalization. required to support e-commerce and distribution, its proprietary hosted cataloging software, and selling advertising on its four search engines. We are taking DPI in a different direction that leverages all of its capabilities into a single, integrated solution that will allow the company to take advantage of the large and growing pay-for-performance opportunity in this end-consumer driven market." ABOUT MOMENTUM VENTURE MANAGEMENT (www.mvmpartners.com) Momentum Venture Management is a Los Angeles-based firm that helps early-stage companies achieve early business results and develop credibility in order to get funding and transform their ideas, technologies and products into sustainable, successful businesses. The company was formed by former Dartmouth and Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. classmates Classmates can refer to either:
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